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Fly News Breaks for August 24, 2016
BBY
Aug 24, 2016 | 08:04 EDT
Deutsche Bank analyst Mike Baker attributes Best Buy's better than expected comparable sales to share gains, which are likely due to leveraging its scale to form strong vendor partnerships, but he also notes that most indicators keep pointing to a weak consumer electronics industry. Baker raised his price target on Best Buy shares to $41 from $32 but keeps a Hold rating on the stock.
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